ANIMA PRIMA FUNDS PLC FIRST ADDENDUM TO ... - ANIMA Sgr

capital while at the same time allowing for some capital appreciation without limiting the Fund to bonds
maturing in 2015. After the Subscription Period subscriptions are no longer accepted.
During the Subscription Period
During the Subscription Period, the objective of the Fund will be to seek to provide capital preservation
and appreciation. The Investment Manager will seek to achieve this objective through investment on a
global basis mainly in Euro Money Market Instruments, in Euro Debt Instruments and in Non-Euro Debt
Instruments listed or traded on a Recognised Exchange.
The Fund will invest up to 100% of its net assets in securities/instruments (Euro Money Market
Instruments, Euro Debt Instruments and Non-Euro Debt Instruments) of investment grade or better at the
time of investment or, if un-rated will be, in the opinion of the Investment Manager of comparable quality.
Subsequent to its purchase by the Fund, a security may cease to be rated or its rating may be reduced
below investment grade. The Fund may invest up to 50% of its net assets in securities/instruments of
below investment grade or which are un-rated at the time of purchase. Where an instrument ceases to be
rated or its rating is reduced to below investment grade, the Investment Manager will consider such event
in determining whether the Fund should continue to hold the security.
The Fund will invest up to 100% of its net assets in Euro Debt Instruments and up to 100% of its net
assets in Non-Euro Debt Instruments.
As the aim of the Fund is to provide a return in Euro, exposure to non-Euro currencies will generally be
hedged. Accordingly, the Fund will maintain a low exposure to non-Euro denominated currencies.
The Fund will be authorised to invest up to 100% of its assets in transferable securities consistent with
the Fund's investment policy above, and issued or guaranteed by any of the entities referred to in
paragraph 2.12 of Appendix I.
After the Subscription Period until the Maturity Date
The objective of the Fund is to provide an attractive rate of return over the period up to the Maturity Date.
It is intended to seek to achieve this objective through investment on a global basis mainly in a diversified
portfolio consisting of Euro Debt Instruments and Non-Euro Debt Instruments listed or traded on a
Recognised Exchange with particular focus on investment in a diversified portfolio of corporate debt
securities both investment grade and high yield.
The Fund will invest up to 100% of net assets in securities/instruments (Euro Money Market Instruments,
Euro Debt Instruments and Non-Euro Debt Instruments) of investment grade or better at the time of
investment or, if un-rated, will be, in the opinion of the Investment Manager, of comparable quality.
Subsequent to its purchase by the Fund, a security may cease to be rated or its rating reduced below
investment grade. The Fund may invest up to 50% of its net assets in securities/instruments of below
investment grade or which are un-rated at the time of purchase. Where an instrument ceases to be rated
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